NEOPIN Valuation Outlook: The Encryption Masterpiece of South Korean Gaming Giants, Exploring the Optimal Solution of DeFi + CeFi

NEOPIN is a "permissioned DeFi protocol" under the South Korean gaming giant Neowiz, combining the advantages of both CeFi and DeFi. It aims to bridge traditional finance and DeFi protocols for users within a compliant framework.

NEOPIN has been selected for the Abu Dhabi Investment Office's Innovation Program and is collaborating with local government agencies to develop a DeFi regulatory framework. It is a very rare regulated DeFi service provider, actively embracing regulation to ensure long-term development is not restricted.

NEOPIN is the only DeFi protocol that supports both Klaytn and Finschia networks, and it is an obvious beneficiary of the Klaytn and Finschia merger event. It may become a DeFi model of the "blockchain merger" concept in the future.

NEOPIN offers DeFi products based on RWA, and entering the RWA market with a compliance framework helps to achieve smooth progress and enjoy the dividends of the explosive growth of the RWA market.

Through comparable analysis valuation, we expect the price of the $NPT token to reach $3.10 to $8.39 USD by the end of 2024, indicating significant upward potential compared to its current token price.

With the backing of giants and compliant operations in Decentralized Finance, as well as benefiting from the historic merger of two major public chains, NEOPIN has a great opportunity to gain more trust from the community in the upcoming wave of blockchain mergers; as a highly inclusive DeFi protocol, NEOPIN's efforts to bring real-world assets onto the chain are also more likely to be recognized by users, with the potential to win the loyalty of a broad range of web2 and web3 users.

Introduction to NEOPIN

NEOPIN was established in 2021, and its self-introduction is "a one-stop, non-custodial licensed protocol for the secure use of encryption under a regulatory framework, while also possessing the advantages of both CeFi and Decentralized Finance. Based on a stable security protocol and a regulated environment, NEOPIN aims to bridge traditional finance and DeFi protocols for users."

The parent company of NEOPIN is the well-known South Korean gaming company Neowiz (which once popularized the FPS game "CrossFire" across Asia). NEOPIN has currently been selected for the innovation program of the Abu Dhabi Investment Office (ADIO), which operates the sovereign wealth fund of the United Arab Emirates, attracting both direct and indirect investments. NEOPIN is collaborating with the UAE government to develop a DeFi regulatory framework and is expanding services based on this framework globally.

The NEOPIN official website introduces that its team members come from well-known companies in the web2 and web3 fields such as Binance, Samsung, Neowiz, and Coupang. Through LinkedIn, it can be seen that NEOPIN currently has no fewer than 30 employees, with the main team members primarily from South Korea, which is quite a considerable talent scale among web3 startups.

NEOPIN believes that centralized exchanges represented by CeFi have created numerous problems due to unclear management of customer funds and ethical issues, resulting in many victims. At the same time, DeFi also faces a series of risks, including oracle risks and protocol defects, leading to significant disasters. Therefore, NEOPIN has proposed a new concept of "permissioned DeFi."

The permissioned DeFi protocol established by NEOPIN aims to provide a stable, secure, and compliant platform while maintaining high transparency, innovation, and flexibility.

In terms of regulatory compliance, NEOPIN has become the first DeFi protocol to collaborate with the Abu Dhabi Global Market (ADGM) to develop and integrate a regulatory framework.

In terms of the functionality of the DeFi protocol itself, the NEOPIN ecosystem also connects various encryption financial services such as P2E, S2E, M2E, and NFTs, allowing users and liquidity providers to benefit through the ecosystem token $NPT.

With the update of NEOPIN's products, the crucial non-custodial wallet NEOPIN Wallet in its ecosystem is hard to ignore.

Firstly, it is not just a simple encryption wallet; it represents a comprehensive blockchain ecosystem. This is reflected in its seamless experience for users, offering everything from basic wallet functions to advanced financial services. Its ecosystem design allows users to explore DeFi, NFTs, and other blockchain-based innovative products and services, thus going beyond traditional asset management.

More importantly, the design of the NEOPIN App focuses on user experience, with its intuitive interface and simple operation process making the management of encryption assets incredibly easy, even for cryptocurrency beginners.

The compliance of NEOPIN is also fully reflected in its wallet application. After creating or importing a wallet, users need to undergo a simple KYC certification process, which streamlines the identity verification process. With straightforward steps and clear guidance, users can quickly complete the certification and enjoy a wider range of services and features.

Highlights of NEOPIN

What distinguishes NEOPIN from other DeFi protocols in the market? Why is NEOPIN likely to foster extremely high user loyalty? We believe that the standout features of NEOPIN include at least the following three points:

1. NEOPIN is the first DeFi protocol to benefit from the concept of "blockchain merger".

To understand this, it is necessary to first understand the following background information:

On February 15 this year, the Klaytn public chain and the Finschia public chain agreed to merge to build Project Dragon, the largest Web3 ecosystem in Asia, covering over 250 million Asian wallet users.

The backgrounds of Klaytn and Finschia are both very strong: Klaytn is a public chain developed by Ground X, a subsidiary of the South Korean internet giant Kakao.

Kakao Talk is the most popular instant messaging tool among Koreans (equivalent to WeChat in Korea); Finschia is a public blockchain developed by Line Tech Plus, a subsidiary of the Japanese internet giant Line. Line Messenger is the most popular instant messaging tool among Japanese people (equivalent to WeChat in Japan).

The merger of the Korean version of WeChat and the Japanese version of WeChat's public chains is likely to become a landmark event in the blockchain industry, potentially sparking a wave of "blockchain mergers" in the future.

In the world of Web3, blockchain "forks" are very common, while blockchain "mergers" are extremely rare. The hard fork of BCH and BSV in 2017-2018 triggered a "forking wave" in the blockchain industry, with many project teams forcibly creating "community conflicts" and producing a large number of forked coins (such as Bitcoin Gold BTG, Bitcoin Diamond BCD, etc.). However, it has been proven that these forked coins mostly fall into silence.

On the contrary, the "merger" of blockchain is rarely proposed or implemented. However, a very obvious truth is that constant division will only make the blockchain world increasingly fragmented, with various forces operating independently. Project teams keep reinventing the wheel on different public chains and issuing various tokens, resulting in an already small web3 world becoming extremely fragmented.

The concept of blockchain mergers is different: the merger of public chains signifies the condensation of community will and the establishment of a higher-level consensus. Furthermore, from the perspective of the traditional financial industry, "forking" is equivalent to "spin-off listing," while "merging" is akin to "mergers and acquisitions." In traditional financial markets, the latter occurs far more frequently than the former. Spin-off listings often only bring temporary speculation, while mergers and acquisitions are important means for enterprises to grow and strengthen.

Therefore, we firmly believe that the "forks" of blockchain that have appeared in large numbers are just interludes in the development process of the web3 world. In the long run, blockchain "mergers" represent the advancement and future of the web3 world.

So, what is the relationship between this merger and NEOPIN?

------because NEOPIN is the only DeFi protocol and governance committee member that supports both the Klaytn and Finschia networks.

In order to assist with this historic blockchain merger, NEOPIN has done a lot of preparatory work (for example, NEOPIN launched the first cross-chain bridge between Klaytn and Finschia, supporting bi-directional cross-chain between Klaytn and Finschia).

In such a complex and large-scale merger project, users who use on-chain protocols or hold on-chain assets are bound to encounter many unprecedented issues. As the only DeFi protocol that simultaneously supports both Klaytn and Finschia networks, NEOPIN is under constant market scrutiny. Each new feature it launches is expected to serve as an important example of how DeFi protocols can respond to blockchain mergers.

If NEOPIN performs excellently in this merger, then in more blockchain mergers in the future, NEOPIN, as the first DeFi protocol to take the plunge, will definitely have the opportunity to play an even greater role.

2. NEOPIN actively embraces regulation and is one of the first protocols to propose "permissioned Decentralized Finance".

In recent years, with the continuous expansion of the encryption market, regulatory agencies in various countries have intensified their investigations and regulatory efforts on web3 projects. An increasing number of projects are being brought under regulatory frameworks, which has become an inevitable trend. However, issues such as insufficient transparency, vulnerability to hacking, and compliance risks are significant problems that restrict the long-term development of Decentralized Finance projects.

NEOPIN, as one of the earliest protocols to propose "permissioned Decentralized Finance", has made a bold and forward-looking move by choosing to actively embrace regulation.

Proactively choosing to cooperate with regulatory bodies in the early stages of the project is beneficial for building a cryptocurrency usage platform that both complies with regulatory frameworks and fully leverages the advantages of Decentralized Finance and CeFi. Its collaboration with the UAE government to develop a DeFi regulatory framework and the global expansion of services based on that framework also places it in a favorable competitive position, while later entrants may have to accept the same regulatory framework, posing no threat to pioneers like NEOPIN.

Before using the NEOPIN service, users need to undergo KYC verification, which also helps prevent illegal funds from flowing into Decentralized Finance protocols, bringing unnecessary trouble to users.

The birth of Web3 is not to create a lawless land; its ultimate goal is to promote innovation in traditional fields in a different way. For long-term development, DeFi protocols, which involve large capital flows and high risks, must inevitably integrate into the existing regulatory framework. Therefore, for a DeFi project, only by achieving compliant development can it lay the foundation for long-term healthy growth.

We believe that actively accepting regulation in the early stages of a project and operating in compliance with the law is more conducive for the project to survive in a future environment of stricter regulation. A good reputation can also help attract more new users who are just getting acquainted with web3, and attracting a large number of new users who have not yet been exposed to web3 is a necessary condition for the entire industry to grow.

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